Pre-Trading Thoughts

The CBE decided to keep interest rates unchanged at 19.25% and 20.25% for overnight deposit and overnight lending rates, respectively, citing a slight decline in core inflation and a moderation of real GDP growth. Egypt is in talks with an Abu Dhabi-based bank for a loan facility that would finance wheat purchases from Kazakhstan, as a cheap alternative to grain from Russia. The Asian International Infrastructure Bank (AIIB) is holding its annual meeting in Sharm El-Sheikh on 25-26 September....